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European shares feel Brexit draught

Posted on December 25, 2020 by admin

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· July 4, 2016 ·

LONDON: European shares wandered lower on Monday (Jul 4) with investors on tenterhooks awaiting political signals about Britain’s EU exit, while Asian stocks increased on hopes of more stimulus for economies currently on reserve bank life assistance. Financials throughout the eurozone came under pressure from a stern European Central Bank alerting to Italy’s No. 3 bank, Banca Monte dei Paschi di Siena, that it needs to slash its bad-debt concern. The FTSE 100 index closed 0.8 per cent lower while the FTSE 250, which more shows domestic companies as opposed to big worldwide companies, was down 2.1 percent. The indices got little traction from a pledge by British financing minister George Osborne to slash corporation tax by over 5 percentage indicate under 15 percent to lure organizations to remain following the nation’s shock vote to leave the European Union. In Frankfurt the DAX 30 shed 0.7 percent and in Paris the CAC 40 dropped 0.9 percent. The Milan exchange underperformed its peers, falling 1.7, on the back of sharp drops in BMPS, UniCredit and others, as the ECB drew fresh attention to the delicate balance sheets of Italian banks whose portfolio of gross bad loans … Read complete this story

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